Multi-disciplinary professional services firm, Progeny, has revealed plans to acquire Chartered financial planning practice, Gibbs Denley.
The acquisition will allow Leeds-based Progeny to extend its footprint to East Anglia and take its assets under management to more than £7.5bn.
Established in 1990, Gibbs Denley have 36 team members, including seven Chartered financial planners, across three offices – in Cambridge, Bury St Edmunds and Chelmsford.
Simon Rees, Managing Director, Gibbs Denley, said: “Over 30 years we have built a highly successful business by providing exceptional customer service and nurturing trusted, long-term relationships with our clients.
“In becoming part of Progeny we take a quantum leap in the services we provide to our clients, with financial planning, investment management, legal and tax specialists in house.
“We can keep striving to achieve ever-higher standards for our clients and now offer them easy access to a range of additional professional services to meet all their legal and financial needs.”
Neil Moles, CEO of Progeny, said: “A trusted, highly professional and ethical firm with great people: Gibbs Denley are an illustrious business.
“Naturally, we’re very happy that they have joined Progeny, bringing with them a stellar team, superlative standards and a connection with their communities that stretches back many decades.
“I look forward to what we can achieve together.”
A team from Progeny’s corporate legal department acted as legal adviser to Progeny on the transaction.
